H & C Property Company Limited Company accounts

COMPANY REGISTRATION NUMBER: SC241958

H & C Property Company Limited

Unaudited Financial Statements

For the year ended

31 March 2025

H & C Property Company Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Directors' report	2

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	3

Statement of income and retained earnings	4

Statement of financial position	5

Notes to the financial statements	7

H & C Property Company Limited

Officers and Professional Advisers

The board of directors	C Macartney
	Mrs J Macartney

Company secretary	C Macartney

Registered office	33 Kittoch Street
	The Village
	East Kilbride
	G74 4JW

Accountants	Nelson Gilmour Smith
	Chartered Accountants
	33 Kittoch Street
	East Kilbride
	G74 4JW

H & C Property Company Limited

Directors' Report

Year ended 31 March 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2025 .

Directors

The directors who served the company during the year were as follows:

C Macartney
Mrs J Macartney

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 16 December 2025 and signed on behalf of the board by:

C Macartney

Company Secretary

Registered office:

33 Kittoch Street

The Village

East Kilbride

G74 4JW

H & C Property Company Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of H & C Property Company Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of H & C Property Company Limited for the year ended 31 March 2025, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of H & C Property Company Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of H & C Property Company Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H & C Property Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that H & C Property Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of H & C Property Company Limited. You consider that H & C Property Company Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of H & C Property Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Nelson Gilmour Smith Chartered Accountants

33 Kittoch Street East Kilbride G74 4JW

17 December 2025

H & C Property Company Limited

Statement of Income and Retained Earnings

Year ended 31 March 2025

	2025	2024
Note	£	£
Turnover	159,019	157,199

	---------	---------
Gross profit	159,019	157,199

Administrative expenses	110,033	61,793
	---------	---------
Operating profit	48,986	95,406

Income from shares in group undertakings		103,736	–
Other interest receivable and similar income		126	133
Interest payable and similar expenses		23,921	25,812
		---------	---------
Profit before taxation	4	128,927	69,727

Tax on profit	4,869	16,552
	---------	--------
Profit for the financial year and total comprehensive income	124,058	53,175
	---------	--------

Retained earnings at the start of the year	519,075	465,900
	---------	---------
Retained earnings at the end of the year	643,133	519,075
	---------	---------

All the activities of the company are from continuing operations.

H & C Property Company Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	1,018	1,278
Investments	6	1,368,914	1,368,914
		------------	------------
		1,369,932	1,370,192

Current assets

Debtors	7	641	1,523
Cash at bank and in hand		6,994	9,114
		-------	--------
		7,635	10,637

Creditors: amounts falling due within one year	8	391,906	507,476
		---------	---------
Net current liabilities		384,271	496,839
		------------	------------
Total assets less current liabilities		985,661	873,353

Creditors: amounts falling due after more than one year	9	342,526	354,276
		---------	---------
Net assets		643,135	519,077
		---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	643,133	519,075
	---------	---------
Shareholders funds	643,135	519,077
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

H & C Property Company Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 16 December 2025 , and are signed on behalf of the board by:

C Macartney
Director

Company registration number: SC241958

H & C Property Company Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 33 Kittoch Street, The Village, East Kilbride, G74 4JW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fitings	-	25% reducing balance
Office equipment	-	20% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Profit before taxation

Profit before taxation is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	260	327
	----	----

5. Tangible assets

	Fixtures and fittings	Office equipment	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	6,182	5,494	11,676
	-------	-------	--------
Depreciation
At 1 April 2024	6,090	4,308	10,398
Charge for the year	23	237	260
	-------	-------	--------
At 31 March 2025	6,113	4,545	10,658
	-------	-------	--------
Carrying amount
At 31 March 2025	69	949	1,018
	-------	-------	--------
At 31 March 2024	92	1,186	1,278
	-------	-------	--------

6. Investments

	Investment properties
	£
Cost
At 1 April 2024 and 31 March 2025	1,368,914
	------------
Impairment
At 1 April 2024 and 31 March 2025	–
	------------

Carrying amount
At 31 March 2025	1,368,914
	------------
At 31 March 2024	1,368,914
	------------

7. Debtors

	2025	2024
	£	£
Other debtors	641	1,523
	----	-------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	11,528	16,562
Corporation tax	4,870	16,552
Social security and other taxes	1,475	4,435
Other creditors	374,033	469,927
	---------	---------
	391,906	507,476
	---------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	342,526	354,276
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £296,415 (2024: £308,436) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The company received a £322,400 loan from The Royal Bank of Scotland PLC repayable over 120 months with the first 60 months fixed at an interest rate of 7.30% p.a.

The loan has been secured by a standard security granted over a property.

10. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value
	2025	2024
	£	£
H Macartney Body Repairs Limited	99,684	41,316
	--------	--------

Control:- The company was under the control of C Macartney throughout the current and previous year. C Macartney is a director and together with members of his close family holds the company's entire issued share capital. Transactions:- During the year the company received commercial rents totalling £75,948 (2024: £81,316) and dividends totalling £103,736 from H Macartney Body Repairs Limited, a company incorporated in Scotland under common control. During the year the company received management services at a cost of £80,000 (2024: £40,000) from H Macartney Body Repairs Limited.